Major developments:

USD is now at 72.59. USDINR opened at 72.50. Expect 72.40-72.60 range for the day. Crude declined on oversupply and worries overextended lockdown in parts of Europe. USD continued its rally against majors and EM Currencies. The rupee is down 17 ps today. Fwd premia continue to harden. 1-year premia are at 5.35% p.a. US Fed Chairman is testifying today at US Senate.

-USDINR is at 72.59. The prior day’s close was 72.43.

-Indian Equity indices decline.

-Indian 10 year G-SEC yield is at 6.12%.

-USDINR 1 yr fwd premia are at 5.35%.

USDINR @ 72.59, EUR/USD 1.1843, GBP/USD @ 1.3706, USD/JPY @ 108.50, EUR/INR @ 85.98, GBP/INR @ 99.50, JPY/INR @ 66.91.

Gold@1731, WTI Crude @ 57.75, Nifty @ 14643(-171), 10 Year G-SEC @ 6.12%.

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